Analyst downgrades: HSY, DNA and GRMN

MOST NOTEWORTHY: Hershey Foods, Genentech and Garmin were today's noteworthy downgrades:

Bernstein downgraded Hershey Foods (NYSE: HSY) to Market Perform from Outperform, citing commodity cost pressures & slowing volume growth.
Thomas Weisel downgraded Genentech (NYSE: DNA) to Market Weight from Overweight after the company reported Q1 results, due to Avastin growth concerns and a lack of meaningful drivers of long-term revenue growth until 2009.
Oppenheimer cut Garmin (NASDAQ: GRMN) to Perform from Outperform on concerns regarding PND pricing and the company's profitability dynamics.

OTHER DOWNGRADES:

Blackrock (NYSE: BLK) was downgraded at Goldman to Neutral from Buy and to Market Perform from Outperform at Wachovia.
Baird downgraded Millennium Pharma (NASDAQ: MLNM) to Neutral from Outperform.
JP Morgan lowered Total SA (NYSE: TOT) to Neutral from Overweight.

Tags: analyst, blackrock, blk, dna, downgrade, garmin, genentech, grmn, hershey, hsy, inthenews, millennium, mlnm, tot, total

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